One mistake many companies make is incorrectly defining who their service providers are. Many think that only service providers that are performing collection activities, skip trace activities or legal activities are covered, but it reaches far beyond the scope of those service providers. You need to think about all of your suppliers, subcontractors and vendors that touch any of your consumer data.
Linda Straub Jones, Director of Market Planning – Compliance for LexisNexis® Risk Solutions discusses the how the CFPB rulings regarding Service Providers and how they could cause your company a great deal of legal, financial, and reputational without the proper monitoring. Be prepared.